Wealth Enhancement Advisory Services LLC Acquires 4,012 Shares of Plains GP Holdings, L.P. $PAGP

Wealth Enhancement Advisory Services LLC boosted its holdings in Plains GP Holdings, L.P. (NYSE:PAGP) by 8.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,891 shares of the pipeline company’s stock after acquiring an additional 4,012 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Plains GP were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in Plains GP by 3.7% in the 1st quarter. Blue Trust Inc. now owns 15,344 shares of the pipeline company’s stock valued at $328,000 after acquiring an additional 545 shares during the period. Pin Oak Investment Advisors Inc. raised its stake in Plains GP by 1.3% in the 1st quarter. Pin Oak Investment Advisors Inc. now owns 83,779 shares of the pipeline company’s stock valued at $1,758,000 after acquiring an additional 1,035 shares during the period. Leisure Capital Management raised its stake in Plains GP by 2.7% in the 1st quarter. Leisure Capital Management now owns 52,064 shares of the pipeline company’s stock valued at $1,112,000 after acquiring an additional 1,390 shares during the period. NewEdge Advisors LLC raised its stake in Plains GP by 1.9% in the 1st quarter. NewEdge Advisors LLC now owns 79,444 shares of the pipeline company’s stock valued at $1,697,000 after acquiring an additional 1,444 shares during the period. Finally, Intrua Financial LLC raised its stake in Plains GP by 6.0% in the 1st quarter. Intrua Financial LLC now owns 27,400 shares of the pipeline company’s stock valued at $585,000 after acquiring an additional 1,547 shares during the period. Institutional investors own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PAGP shares. Zacks Research cut Plains GP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Mizuho increased their price objective on Plains GP from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 18th. Morgan Stanley lowered their price objective on Plains GP from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Wolfe Research reiterated a “peer perform” rating on shares of Plains GP in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. lowered their price objective on Plains GP from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.50.

Plains GP Stock Down 0.5%

Shares of NYSE PAGP opened at $18.21 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.01. Plains GP Holdings, L.P. has a 52 week low of $16.60 and a 52 week high of $22.31. The stock has a market capitalization of $3.60 billion, a P/E ratio of 34.36 and a beta of 0.68. The stock’s fifty day moving average is $18.89 and its 200 day moving average is $19.03.

Plains GP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.3%. Plains GP’s payout ratio is currently 220.29%.

About Plains GP

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.